As the second post in our series in respect of the recent Budget, we take a look at the measures outlined in respect of CGT.

Capital Gains Tax (CGT)

The importance of understanding the tax allowances and rates for CGT is to take advantage of:

• the short term opportunity of using your annual

It may feel like a long time ago, but on Wednesday 11 March 2020, the Chancellor Rishi Sunak presented his first Budget. Indeed, it was the first Budget of this new government and was presented confidently by a Chancellor who had only been in office for a month.

In his speech he stated “We are at

With most commercial flights now postponed for the foreseeable future, HMRC have published guidance on when extended stays in the UK due to COVID-19 can be ignored for the purposes of the day-count under the Statutory Residence Test (“SRT”).

Unable to leave the UK due to Covid 19

Individuals

Taxpayers presently involved in current HMRC investigations and enquiries including Code of Practice 9 investigations will be concerned at how the COVID-19 crisis affects their situation.

Investigation deadlines

 HMRC investigators are expected to not insist on deadlines being met and will offer

With an increasingly uncertain economic climate ahead, in this report, we take a look at the new measures aimed at supporting business borrowing.

Coronavirus Business Interruption Loan Scheme

The new Coronavirus Business Interruption Loan (CBIL) scheme has been launched.  It is modelled on, and

With businesses deemed non-essential being ordered to close their doors for an indefinite period,  in this report we examine what help is available if this affects your business. 

Business Rates Holiday for Retail, Hospitality and Leisure Businesses

The Government is introducing a business rates

Amid growing concern amongst the UK’s large self-employed population about the impact of Covid 19, last week the Government announced details of a support package. In this report we examine the details.  

Coronavirus Self-Employment Income Support Scheme

What is it?

This scheme provides

As large numbers of people now find themselves unable to work, and large numbers of employers struggle to meet their Payroll commitments, in this report we examine the Government’s measures aimed at assisting staff retention.

Coronavirus Job Retention Scheme and Furlough Leave

What is it?

This

As a result of Covid 19, all businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. In this report we examine what this means in practice.

When to make